Financial Daily from THE HINDU group of publications
Tuesday, Jan 03, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 03, 2006 |
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Markets
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New Fund Offer HDFC MF launches close-ended fund Our Bureau
Mumbai , Jan. 2 HDFC Mutual Fund is launching a long-term equity fund, a close-ended equity scheme. The fund has a maturity period of five years with automatic conversion into an open-ended scheme upon maturity. The new fund offer opened on December 30, 2005 and closes on January 27. The investor can choose to invest in both growth and dividend options of the scheme. HDFC's long-term equity fund's strategy is to build and maintain a diversified portfolio of equity stocks that have the potential to appreciate in the long run. Companies identified for selection in the portfolio are those with a potential ability to grow at a reasonable rate in the long-term, the fund said in a release. The scheme will have a maturity period of five years, which ensures that the fund managers have the flexibility to choose stocks with long-term perspective to maximise the chances of generating long-term wealth.
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